Tuesday, October 14, 2008

Wall Street had a tough time last week

...but nowhere near as bad as Reykjavik today.

Le Monde:
Fermée depuis trois jours, la Bourse islandaise s'est offert une réouverture remarquée, mardi 14 octobre : alors que les autres places de la planète nagent en pleine euphorie, Reykjavik a ouvert en chute libre de 76 %.

Rough Translation:
Closed for three days, the Icelandic stock market notably reopened, Tuesday October 14th. While other places on the planet were euphoric, Reykjavik opened only to freefall 76%.

The IMF, or somebody, is going to have to bail them out. Not for the stock market fall, but the solvency crisis of the entire country.

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